IoTeX proposes a 100% user compensation plan for the ioTube hacking incident: immediate compensation for users with amounts of $10,000 or less

The IoTeX Foundation has announced the latest tracking and full compensation plan regarding the ioTube cross-chain bridge security incident. The team stated that they have completed a full-chain tracking of the stolen funds, with most CIOTX already frozen on-chain, and the remaining assets mainly converted to approximately 2,183 ETH and transferred to the Bitcoin network. The related BTC addresses are currently under monitoring.

The foundation promises 100% compensation for all users who held USDC, USDT, ETH, and WBTC bridged from Ethereum to IoTeX at the time of the incident: users with losses of $10,000 or less can receive a full one-time payout; users with losses exceeding $10,000 will receive an immediate payout of the first $10,000, while the excess amount will be distributed over four quarters, along with an additional 10% compensation issued in the form of 12-month staked IOTX. The platform will open the official recovery address and Claims Portal on February 27, and users need to consolidate the affected assets and transfer them in one go, submitting on-chain transaction information to complete the verification and compensation process.

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